Blackstone exits Gokaldas Exports with 79% haircut

Tuesday, April 4, 2017, 8:08 AM

Mathew Cyriac, the former co-head of Blackstone’s private equity (PE) business in India, has bought a 39.96% stake in Gokaldas Exports from Blackstone for Rs 58.61 crore. The PE firm has taken a 79% haircut to exit its decade-long investment. In 2007, Blackstone had picked up a 70% stake in Gokaldas for Rs 676 crore, paying Rs 275 a share.